Scoff all you want. Kraft Foods is going for it. The company is splitting into two public entities and one half of it — its global snacks business — will be known as Mondelēz International.
The shareholder vote at the company's May 23rd annual general meeting on the name change wasn’t even close, either. More than 90 percent of those who voted gave the new name the OK, according to a press release.
The word Mondelēz, selected from an internal employee competition, is a "portmanteau" combination of the Latin word for world (“monde”) and “delez,” which is supposed to suggest deliciousness. Sticking "International" on at the tail end gives it that global feel the company is in search of.
Mondelēz the company will focus on the global snacks business while Kraft will plow onward in the North American grocery business.
"Mondelēz has an appealing international sound that perfectly evokes the idea of a 'delicious world.' That's the essence of our global snacks company," said Irene Rosenfeld, Chairman and CEO, according to the release.
Of course, there is no single product that will be called Mondelez. It will simply serve as the company name for such products as Cadbury, Milka, Nabisco, and Tang.
Investors who are hot on the Mondelēz idea should start looking for the MDLZ ticker symbol to see how the company does once the spinoff becomes official.
As for the new Mondelēz logo, Underconsideration.com, which hasn’t liked Kraft’s past logo efforts, describes it thusly: "it's bouncy, it’s flowy, it’s perfectly kerned, and it even manages to tie in to the Kraft Foods logo with those two teardrop shapes.”
Since this is a corporate logo, rather than one aimed at consumers, the site notes, it doesn’t need to work quite as hard to engage the end audience. They’ve got Nabisco and Tang to do that.